International real estate advisor Savills has established a Middle East platform, following the acquisition of Cluttons Middle East. The acquisition will see Savills take full ownership of Cluttons Middle East, a leading real estate consultancy which has been established in the region for more than 40 years.

With offices across the UAE, Bahrain, Egypt, Oman and Saudi Arabia, Cluttons Middle East services a large portfolio of clients including international corporate and institutional investors, private individuals and families. The company has built its market-leading reputation working on some of the region’s landmark residential, office, retail and industrial projects.

The business will be re-branded Savills during 2018, and the 190 strong team will transfer to Savills immediately. The full retention of the Cluttons Middle East leadership team and employees will ensure clients and customers not only continue to benefit from the same local expertise but also benefit from the Savills global platform.

The Middle East has been a strategic target for Savills, and the acquisition sees Savills establish its first wholly owned business in the region, having previously been represented by associates. 

Mark Ridley, Savills Deputy Group Chief Executive, says: “The Middle East region is key to the global economy and its continued economic development, increased government investment and a young population will continue to accelerate its significance.

“The acquisition of Cluttons Middle East geographically links our European and Asian business by enhancing our EMEA platform. With a market-leading position, and strong local leadership, we will be able to offer a high-quality service to both existing and new clients as we look to expand our platform of services.”

Steven Morgan, Chief Executive at Cluttons Middle East, comments: “Despite economic headwinds across the region in recent years, Cluttons Middle East has grown from strength to strength and Savills acquisition is a testament to our current position in the market. This acquisition by Savills is an incredibly positive and exciting opportunity for all Cluttons Middle East clients and employees as it will merge our regional expertise with Savills global capabilities.”

Source: Savills

See also:

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Oman’s economic growth to have positive impact on Muscat's real estate market - Cluttons reports

Abu Dhabi’s economy prepares for stronger growth in 2018